XRP Network Sees Highest Whale Activity Since May

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Santiment tweets, ”XRP is seeing notable whale activity, as well as high optimism, in Friday’s closing trading hours. We’ve picked up a spike of $100k+ $XRP transactions that hasn’t been equaled since May 13. Additionally, sentiment is at its highest since April. “

As the crypto market heads in a bearish direction, XRP sees a massive influx of whale transactions, with over $100K worth of funds transferred as Ripple tokens. Following these transactions, XRP has seen a tumultuous trend in the last 24 hours. As of writing this article, the token is priced at $0.3445, with a 5.14% increase in the 24-hour traded volume and a +0.95% change in its 24 hours price.

The growing XRP sentiments occur ahead of the SEC vs. XRP case as investors await the Court’s verdict on the SEC’s denial of the July session of the ongoing lawsuit. 

The last update provided by Defense lawyer James Filan states the upcoming months could be busy times for the lawsuit, with the motions for summary judgment expected as early as September 13. Moreover, he predicts that Judge Torre’s final decision may arrive before or on March 31, 2023.

Santiment, a crypto market analytic platform, reveals the XRP network had 452 transactions on August 20, making it the cryptocurrency’s highest network activity since May 13. 

Lastly, blockchain tracker, Whale Alert, claims that a total of 210M XRP tokens were transferred on August 20. Three of these were whale transactions wherein tokens amounting to 132M XRP were transferred from three different Bitstamp addresses to BitGo wallets. The remaining 40M XRP tokens were sent to Bittrex, while another 38.2M tokens were transferred internally within the Bitso exchange.

Written by
Ayush Pande
Santiment tweets, ”XRP is seeing notable whale activity, as well as high optimism, in Friday’s closing trading hours. We’ve picked up a spike of $100k+ $XRP transactions that hasn’t been equaled since May 13. Additionally, sentiment is at its highest since April. “

As the crypto market heads in a bearish direction, XRP sees a massive influx of whale transactions, with over $100K worth of funds transferred as Ripple tokens. Following these transactions, XRP has seen a tumultuous trend in the last 24 hours. As of writing this article, the token is priced at $0.3445, with a 5.14% increase in the 24-hour traded volume and a +0.95% change in its 24 hours price.

The growing XRP sentiments occur ahead of the SEC vs. XRP case as investors await the Court’s verdict on the SEC’s denial of the July session of the ongoing lawsuit. 

The last update provided by Defense lawyer James Filan states the upcoming months could be busy times for the lawsuit, with the motions for summary judgment expected as early as September 13. Moreover, he predicts that Judge Torre’s final decision may arrive before or on March 31, 2023.

Santiment, a crypto market analytic platform, reveals the XRP network had 452 transactions on August 20, making it the cryptocurrency’s highest network activity since May 13. 

Lastly, blockchain tracker, Whale Alert, claims that a total of 210M XRP tokens were transferred on August 20. Three of these were whale transactions wherein tokens amounting to 132M XRP were transferred from three different Bitstamp addresses to BitGo wallets. The remaining 40M XRP tokens were sent to Bittrex, while another 38.2M tokens were transferred internally within the Bitso exchange.

Written by
Ayush Pande